In his farewell address, US President Joe Biden cautioned that an “oligarchy is forming in America,” highlighting that “a dangerous concentration of power” among a select few individuals poses a threat to US democracy.
Mr. Biden expressed concern over “a dangerous concentration of power in the hands of a very few ultra-wealthy individuals,” warning that “an oligarchy is taking shape in America, with extreme wealth, power, and influence that literally threatens our entire democracy.”
He concluded a political career spanning half a century with a final speech from the Oval Office, aiming to solidify a legacy clouded by the Democrats’ inability to prevent Donald Trump from regaining the presidency.
Mr. Biden began his address with a familiar plea for national unity, but quickly shifted to address the troubling accumulation of wealth in the United States.
He also hinted at a “tech industrial complex” that is generating an “avalanche of misinformation and disinformation, facilitating the abuse of power.” He noted that the free press “is crumbling.”
Mr. Biden capped his lengthy political career with the final Oval Office address.
At noon local time on Monday, Mr. Biden will transfer power to Mr. Trump. Mr. Trump has recruited billionaire Elon Musk, who aided his election efforts, as a special advisor responsible for cutting costs within the federal government.
This ominous address occurs as Mr. Biden’s Democratic Party finds itself with limited influence in national politics, while Mr. Trump has appointed a cabinet slate pledging to disrupt traditional US alliances and governance norms.
Running for president in 2020 as a transitional figure, Mr. Biden, at the unprecedented age of 80, chose to seek reelection, believing he was the only Democrat capable of defeating Mr. Trump.
After being forced out of the race in July following a disastrous debate against Mr. Trump, some Democrats have blamed Mr. Biden for their November defeats, especially following Vice President Kamala Harris’ whirlwind campaign that lost every battleground state.
Mr. Biden and his allies managed to oversee a recovery from Covid-19, funded an infrastructure rebirth, initiated new semiconductor chip manufacturing, and addressed climate change, all while attempting to correct inequality and invest in the future. He is leaving an outperforming US economy and optimistic businesses behind.
Nonetheless, Mr. Biden was unable to mend the nation’s divisions as he had hoped, or to halt the democratic decline occurring globally. His notable political triumph – defeating Mr. Trump in 2020 – turned out to be short-lived.
Now, the Republican president-elect has pledged to reverse many of the accomplishments achieved by the Democratic administration.
“All Joe Biden desired was to be remembered for the significant contributions he made to this country, but at least in the short term, those have been overshadowed by his poorly timed decision to run,” remarked David Axelrod, a former advisor to President Barack Obama.
“His victory over Trump made him a historic president. Thus, Trump’s resurgence and return to power – even more vigorous than before – serves as an unfortunate epilogue to the story,” he added.
Mr. Biden addressed what he identified as an ongoing national threat in a letter distributed by the White House.
“I ran for president because I believed that the soul of America was at stake. The essence of who we are was at risk. And, that remains true,” he stated, urging Americans to continue the fight for equality, life, liberty, and the pursuit of happiness.
A White House official noted that legacies are created over time.
“Historically speaking, it has been just a brief moment since the election. This president has achieved the most significant legislative record since LBJ (President Lyndon Johnson in the 1960s), and the lasting benefits of those laws will manifest over decades,” the official stated.
Senator Chris Coons, a long-time ally, indicated that Mr. Biden faced an economic crisis, a public health pandemic, and a democracy challenge following the Capitol riot on January 6, 2021, by Trump supporters upon taking office that year.
“The nation was deep in crises. The recovery from the pandemic stands as his paramount achievement,” Mr. Coons remarked.
Mr. Biden’s administration managed the distribution of Covid vaccines as well as an economic rebound that defied recession predictions, even as inflation soared and prices remained elevated, which soured voter perceptions of his economic management.
Mr. Biden and Vice President Kamala Harris embraced after he delivered his farewell address.
Republicans capitalized on public dissatisfaction in last year’s election, inciting anger over soaring prices with accusations of Democratic elitism and disconnection from working-class constituents, while attributing high costs to immigrants despite a lack of credible evidence.
“You cannot reverse four and a half decades of growing inequality with a few years of exceptional economic outcomes and policy changes,” commented Heidi Shierholz, president of the Economic Policy Institute.
“However, one of the key contributions was delivering the level of relief needed to stimulate a robust jobs recovery.”
Afghanistan and Israel
Mr. Biden, who spent over three decades in the Senate and served eight years as vice president under Mr. Obama before his four years as president, cites a united Western response to Russia’s aggression in Ukraine, the strengthening of alliances, and the US withdrawal from Afghanistan as pivotal foreign policy accomplishments.
Nevertheless, 13 US military personnel lost their lives during the chaotic withdrawal from Afghanistan in August 2021, and Mr. Biden’s popularity never fully recovered.
His steadfast support for Israel, which has resulted in the deaths of thousands of Palestinians in reaction to the Hamas militant group’s lethal attack on Israel, divided the Democratic Party and adversely affected Mr. Biden’s standing with the left.
